News Archives for Business & Finance - 2024-07-16

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Business & Finance - 2024-07-16

Stocks

Dow rally drives Wall St higher as rate-cut hopes stay strong

The Dow led Wall Street’s main indexes higher on Tuesday, boosted by UnitedHealth’s strong results and as...

Published 16 Jul, 2024 09:20pm

Stocks

European autos, clean energy feel the pinch of Trump 2.0 bets

MILAN/LONDON: A sell-off in the shares of some European carmakers and renewable energy firms entered a second day on...

Published 16 Jul, 2024 09:15pm

Stocks

Sri Lankan shares inch lower as financial stocks drag

CSE All-Share index fell nearly 0.1% to 11,878.92

Published 16 Jul, 2024 06:37pm

IMF sees steady global growth, warns of slowing disinflation momentum

WASHINGTON: The global economy is set for modest growth over the next two years amid cooling activity in the U.S., a...

Updated 16 Jul, 2024 08:33pm

Stocks

Gulf bourses end mixed on US rate cut hopes, falling oil

Stock markets in the Gulf ended mixed on Tuesday as comments from Federal Reserve Chair Jerome Powell boosted bets...

Published 16 Jul, 2024 06:20pm

Money & Banking

Morgan Stanley’s profit jumps as investment banking recovers

Morgan Stanley’s profit rose in the second quarter as investment banking activity rebounded. Its net income rose to...

Published 16 Jul, 2024 05:02pm

Stocks

IT leads Indian blue-chips to record closing highs

BENGALURU: India’s benchmark indexes notched record closing highs on Tuesday, buoyed by gains in heavyweight...

Published 16 Jul, 2024 04:56pm

Commodities

Aluminium hits three-month low on heavy supply, copper slips

LONDON: Aluminium prices dropped to the lowest in over three months on Tuesday on worries about oversupply, while...

Published 16 Jul, 2024 04:53pm

Commodities

Palm oil snaps two-day losing streak on rivals’ strength, higher export estimates

KUALA LUMPUR: Malaysian palm oil futures rose on Tuesday to snap a two-day decline, buoyed by stronger rival Dalian...

Published 16 Jul, 2024 04:51pm

Business & Economy

New IMF programme to improve Pakistan’s funding prospects: Moody’s

Credit rating agency, however, warns govt’s ability to sustain reform implementation will be key to continually unlock financing over three-year duration

Updated 16 Jul, 2024 09:38pm

Middle East

Most Gulf markets gain on US rate cut optimism

Major stock markets in the Gulf rose in early trade on Tuesday as comments from Federal Reserve Chair Jerome Powell...

Published 16 Jul, 2024 03:31pm

Forex

South African rand claws back losses as markets bet on US rate cuts soon

JOHANNESBURG: The South African rand clawed back some losses on Tuesday, after tumbling on Monday, on rising...

Published 16 Jul, 2024 03:29pm

Stocks

European stock markets retreat at open

LONDON: Europe’s main stock markets slid at the start of trading on Tuesday following a mixed showing by Asia and...

Published 16 Jul, 2024 12:49pm

Stocks

Asian shares fall as China drags, dollar in demand

SYDNEY: Asian shares fell on Tuesday as investors pondered the prospect of a Trump victory and what that would mean...

Published 16 Jul, 2024 12:29pm

Commodities

Palm oil rises on firmer rivals, higher Malaysian export estimates

KUALA LUMPUR: Malaysian palm oil futures rose on Tuesday, as stronger rival Dalian and Chicago contracts and higher...

Published 16 Jul, 2024 11:58am

Commodities

Soybeans rise from four-year low on bargain-buying, wheat firms

SINGAPORE: Chicago soybeans inched higher on Tuesday, with bargain-buying supporting the market, which dropped to...

Published 16 Jul, 2024 11:54am

Commodities

Copper eases on rising inventory, weak China data

Copper prices fell on Tuesday, weighed down by weak economic data from top consumer China and rising inventories in...

Published 16 Jul, 2024 11:28am

Forex

China’s yuan slips on economic weakness despite tight offshore funding

SHANGHAI: The yuan eased against the US dollar on Tuesday as a slew of weak Chinese economic data dampened...

Published 16 Jul, 2024 11:13am

Stocks

China stocks steady amid focus on Third Plenum; HK shares fall

SHANGHAI: China stocks held steady on Tuesday, as investors awaited the details of reform measures announced at the...

Published 16 Jul, 2024 10:53am

Mutual Funds

Philippines raises $513mn from T-bonds auction

MANILA: Following are the results of the Philippine Bureau of the Treasury’s (BTr) auction of reissued 2034 T-bonds...

Published 16 Jul, 2024 10:34am

Forex

Dollar drifts as Powell comments bring September rate cut in focus

SINGAPORE: The dollar hung around five-week lows on Tuesday as comments from Federal Reserve Chair Jerome Powell...

Published 16 Jul, 2024 09:55am

Forex

Indian rupee pressed by weak Asia, supported by intervention hopes

MUMBAI: The Indian rupee is expected to open largely unchanged on Tuesday despite a decline in Asian peers on...

Published 16 Jul, 2024 09:50am

Stocks

Australian shares muted as Rio Tinto’s over 2% drop offsets gains in banks

Australian shares drifted in a narrow range on Tuesday, as mining behemoth Rio Tinto led losses among bellwether...

Published 16 Jul, 2024 09:47am

Stocks

Japan’s Nikkei rises as market gauges US election outlook, yen strength

TOKYO: Japan’s Nikkei share average rose on Tuesday, tracking gains in Wall Street, as investors assessed whether an...

Published 16 Jul, 2024 09:45am

Energy

Oil prices edge down on worries about Chinese demand

HOUSTON: Oil prices declined on Tuesday on worries of a slowing Chinese economy crimping demand and despite a...

Updated 16 Jul, 2024 09:58pm

Mutual Funds

Indian bond yields steady; traders seek trigger for 10-year to breach key level

MUMBAI: Indian government bond yields were largely unchanged in early trading on Tuesday, with traders eyeing strong...

Published 16 Jul, 2024 09:40am

Bullion Rate

Gold drifts higher as US rate cut optimism boosts appeal

Gold prices nudged higher on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a...

Published 16 Jul, 2024 09:37am

Taxes

PM stands firm on tax laws: Adviser

ISLAMABAD: Adviser to the Prime Minister on Political Affairs, Rana Sanaullah, on Monday said that the prime ...